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Product Quality in a Simple OLG Model of Scientific Competition

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  • Max Albert

    ()
    (Justus Liebig University Giessen)

Abstract

Using a simple OLG model where the research output of one generation provides inputs for the next, the paper explains how quality standards can become established in scientific competition. Researchers seek status, which they get if their results are used by the next generation. Quality is hereditary in the sense that input quality affects output quality. Hereditary quality allows for simple coordination on quality standards.

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File URL: http://www.uni-marburg.de/fb02/makro/forschung/magkspapers/04-2008_albert.pdf
File Function: First version, 2008
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Bibliographic Info

Paper provided by Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung) in its series MAGKS Papers on Economics with number 200804.

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Length: 29 pages
Date of creation: 2008
Date of revision:
Handle: RePEc:mar:magkse:200804

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Related research

Keywords: economics of science; methodology of economics; product quality; quality standards; scientific competition;

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References

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  1. Congleton, Roger D., 1989. "Efficient status seeking: Externalities, and the evolution of status games," Journal of Economic Behavior & Organization, Elsevier, vol. 11(2), pages 175-190, March.
  2. Max Albert, 2006. "Product Quality in Scientific Competition," Papers on Strategic Interaction 2006-06, Max Planck Institute of Economics, Strategic Interaction Group.
  3. Franz Hackl & Martin Halla & Gerald J. Pruckner, 2007. "Volunteering and Income - The Fallacy of the Good Samaritan?," Kyklos, Wiley Blackwell, vol. 60(1), pages 77-104, 02.
  4. David, Paul A, 1998. "Common Agency Contracting and the Emergence of "Open Science" Institutions," American Economic Review, American Economic Association, vol. 88(2), pages 15-21, May.
  5. Jurgen Meckl & Max Albert, 2008. "What Should We Expect from Peer Review? (Comment)," Conferences on New Political Economy, in: Max Albert & Stefan Voigt & Dieter Schmidtchen (ed.), Conferences on New Political Economy, edition 1, volume 25, pages 257-261(5 Mohr Siebeck, Tübingen.
  6. Paula E. Stephan, 1996. "The Economics of Science," Journal of Economic Literature, American Economic Association, vol. 34(3), pages 1199-1235, September.
  7. Paul A. David, 2004. "Understanding the emergence of 'open science' institutions: functionalist economics in historical context," Industrial and Corporate Change, Oxford University Press, vol. 13(4), pages 571-589, August.
  8. Christian Seidl & Peter Grosche & Ulrich Schmidt, 2008. "A Beauty Contest of Referee Processes of Economics Journals," Conferences on New Political Economy, in: Max Albert & Stefan Voigt & Dieter Schmidtchen (ed.), Conferences on New Political Economy, edition 1, volume 25, pages 235-255(2 Mohr Siebeck, Tübingen.
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